NBC Securities Inc. Grows Holdings in Webster Financial Co. (NYSE:WBS)

NBC Securities Inc. boosted its position in shares of Webster Financial Co. (NYSE:WBS) by 228,800.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,289 shares of the financial services provider’s stock after purchasing an additional 2,288 shares during the period. NBC Securities Inc.’s holdings in Webster Financial were worth $118,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WBS. Norges Bank purchased a new stake in Webster Financial during the 4th quarter valued at about $120,497,000. Balyasny Asset Management L.P. grew its position in Webster Financial by 1,253.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider’s stock valued at $61,897,000 after purchasing an additional 1,038,085 shares during the last quarter. Millennium Management LLC grew its position in Webster Financial by 43.0% during the 4th quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider’s stock valued at $140,658,000 after purchasing an additional 766,019 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock valued at $45,462,000 after purchasing an additional 727,530 shares during the last quarter. Finally, FJ Capital Management LLC purchased a new stake in Webster Financial during the 4th quarter valued at about $29,177,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $53.87 on Tuesday. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. The stock has a market capitalization of $9.06 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.00. The firm’s 50 day moving average price is $48.58 and its 200-day moving average price is $53.67. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. During the same quarter in the previous year, the business posted $1.35 EPS. Webster Financial’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial’s payout ratio is 36.04%.

Insiders Place Their Bets

In other Webster Financial news, insider Javier L. Evans sold 7,800 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total transaction of $410,124.00. Following the completion of the sale, the insider now directly owns 19,820 shares of the company’s stock, valued at $1,042,135.60. This trade represents a 28.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the sale, the insider now directly owns 31,534 shares of the company’s stock, valued at approximately $1,679,185.50. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,000 shares of company stock worth $934,210. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $60.00 price target on shares of Webster Financial and gave the company an “outperform” rating in a report on Friday, April 25th. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group initiated coverage on shares of Webster Financial in a report on Wednesday, May 21st. They set a “buy” rating and a $65.00 price target on the stock. Barclays dropped their price target on shares of Webster Financial from $80.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price target on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and an average target price of $63.75.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.